Following one digital currency transaction through the blockchain
The order a payment follows: the sender makes it, it is time-stamped, placed in a block, and the block joins the chain, so the record becomes permanent.
Understanding Following one digital currency transaction through the blockchain in IGCSE Computer Science Paper 1
What it does: Time-stamped transactions are placed in a block. A block holds a group of transactions. When the block joins the chain, the transaction record cannot be altered, so it is permanent. The time-stamp records when the payment was made, which keeps transactions in order. It does not give the sender a way to cancel.
Common mistakes: The payment must be time-stamped with the current time, so the line should be payment.time ← NOW(). Erasing the time would leave no record of when it happened. A payment is placed in a block first. The chain is built from blocks, not single payments, so the line should be block.ADD(payment).
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Quick Questions
Match the Pairs
Key Term
transaction -> time-stamp -> block -> chainFill in the Blanks
Spot the Error
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